How to Find Ideal Two-Wheeler Insurance for City Riders?

What Is An Ideal Two-Wheeler Insurance for City Riders?

In cities, the traffic density and the scope of accidents are higher than in rural areas, which includes the own damages, vehicle theft and third-party liabilities. To mitigate such damages and losses, you should insure your two-wheeler with comprehensive bike insurance. It is considered the most ideal cover as it provides coverage for both third-party and own damages incurred by your bike. Let’s discuss some steps to consider to find an ideal bike insurance policy for city riders.

Steps to Get An Ideal Bike Insurance for City Riders

Below are some steps to get an ideal bike insurance plan for city riders:

1. Understand Your Requirement

Start the search for ideal bike insurance with the consideration of your requirements. You can opt for third-party cover or a comprehensive policy based on your needs. However, it is always recommended to opt for a comprehensive cover as it provides the ideal coverage for your bike.

2. Select Insured Declared Value

Insured Declared Value (IDV) is the market value of your two-wheeler, which is to be paid by the insurance company in case of total loss or theft of the bike. With time, the depreciation increases that lowers the IDV which ultimately decreases the premium. Hence, the IDV plays an important role in determining the insurance cost, so, choose it wisely.

3. Cubic Capacity (CC) of Your Bike

The engine’s cubic capacity of a bike plays a crucial role in determining the premium of insurance. The higher the CC will be, the more will be the premium. The IRDAI states the third-party cover rates on the basis of the bike’s engine cubic capacity, so figure out your bike’s engine cc as it will help you determine your policy premium.

4. Consider Right Add-on Covers

To extend the coverage of your policy, you should include some add-on covers. Since, the standard own-damage policy might have some shortfalls like it does not compensate for personal belonging expenses during a theft of a two-wheeler, which can be included with add-ons.

5. Choose a Digital Insurer

Nowadays, most of the insurance-related processes are processed online only and involve no paperwork. It lowers the operating cost and brings convenience to policyholders with seamless purchase, renewal and claim process, which can help you save money with low-cost insurance services.

Also Read - Should I Purchase Two-Wheeler Insurance Online?

6. Compare Different Policies 

The online facility allows you to compare a variety of bike insurance policies for your two-wheeler. You should check for the inclusions, exclusions, coverage, premium, etc., to get the ideal bike insurance policy. The comparing process enables you to make the right decision to find a value for money deal for your bike.

7. Read Reviews of the Insurer

Go through the online reviews for insurance companies by verified customers. You can understand the pros and cons of an insurance company before you finalise it.

8. Look for Multi-Year Plans and Discounts

Choose a cover that offers the highest discount without compromising the policy cover, sum insured, etc. Apart from discounts, try to pick a multi-year policy to save money and stay covered. This way, you can get extensive coverage at a lower premium.

9. Choose Insurers Giving Instant Claim Settlements

Many insurance companies give instant claim settlement facilities nowadays for minor damages like dents, broken mudguards, etc. They also promise to pay the amount through an account transfer to help you get your bike repaired at any garage.

10. Select Insurers with Quicker Claims Process

Many insurance companies make you register a claim within a few minutes. You just have to access your online account, answer some questions and upload your damaged bike’s pictures to submit your claim and it is done. Always go for such insurers for hassle-free and fast claim settlements in the future.

You may also like to read - Top Ways to Save Money on Bike Insurance Renewal

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.